ProAssurance Sees Drop in Quarterly Profit Despite Increased Writings

Specialty insurer ProAssurance Corp. has reported a slight increase in its earned premiums in the first quarter to $178 million, up from $172 million in the same period of 2015. The Birmingham, Ala.-based insurer, which writes workers’ compensation and other specialty lines for the health care industry, reported that it would likely post a net income of about $19.7 million, compared with $37.8 million in the corresponding period last year. Despite a 3% increase in its premium writings, net income dropped on poor investment results. Chief Executive Officer W. Stancil Star...